Pacific Bay Announces New CFO
Rhea-AI Summary
Pacific Bay Minerals (TSXV: PBM) has announced key organizational changes and provided an update on its Brazilian project. The company has appointed Philip Ellard, CPA as its new Chief Financial Officer, replacing Leanora Brett, who will continue as Corporate Secretary. Ellard, who holds a Bachelor of Commerce Honours from UBC, brings expertise in financial reporting, go-public processes, and regulatory support services.
The company also updated shareholders on its Pereira-Velho Gold Project acquisition in Alagoas, Brazil. The TSX Venture Exchange is currently reviewing the proposed 100% interest option acquisition announced on January 7th, 2025. Trading of company shares remains suspended pending the Exchange's satisfactory review of technical information, which will be disclosed prior to trading resumption.
Positive
- Appointment of experienced CPA as new CFO with public company expertise
- Potential acquisition of 100% interest in Brazilian gold project amid rising gold prices
Negative
- Trading of company shares currently suspended pending TSX Venture Exchange review
- Uncertainty around timing of trading resumption and project acquisition approval
Vancouver, British Columbia--(Newsfile Corp. - February 10, 2025) - Reagan Glazier, President and CEO of Pacific Bay Minerals Ltd. (TSXV: PBM) ("Pacific Bay" or the "Company") reports the appointment of a new Chief Financial Officer. Longtime CFO Leanora Brett has stepped down and is replaced by Philip Ellard, CPA. Ms. Brett remains Corporate Secretary of the Company.
Philip Ellard is a designated CPA with a Bachelor of Commerce Honours from the University of British Columbia. His expertise includes providing financial reporting, go-public, taxation and regulatory support services. Philip is also CFO of public issuers Neotech Metals Corp, MiMedia Holdings and Newpath Resources Inc.
"Lea Brett's service and dedication to Pacific Bay is greatly appreciated and I look forward to working with her as Corporate Secretary," said Reagan Glazier, President & CEO of Pacific Bay. "Philip Ellard is a skilled and talented accounting professional who will help the Company execute its aggressive growth strategy."
Brazil Update
The TSX Venture Exchange continues its review of the Company's proposed acquisition of an option to acquire a
"With gold prices climbing, it's a good time to be acquiring quality projects," said Reagan Glazier, President & CEO of Pacific Bay. "Our team is working hard to expedite the Pereira-Velho Gold transaction and is excited about the prospect of exploring a project we all believe in strongly."
Pacific Bay Minerals Ltd. Per/
Reagan Glazier, President & CEO
Contact: Reagan Glazier, 403-815-6663, reagan@pacificbayminerals.com
This news release contains "forward‐looking statements" within the meaning of Canadian securities legislation. Forward‐looking statements include, but are not limited to, statements with respect to the timing for payment of the option payments, timing regarding any future financings of the Company and timing for completion of future expenditures and plans relating to exploration of the Property, the magnitude and quality of the Property and spending commitments. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Pacific Bay will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward‐looking statements include, amongst others, the global economic climate, dilution, share price volatility and competition, results of exploration activities and development of the Atlin Goldfields Property, risks associated with the Agreement, including that the Agreement may be terminated or the option not exercised, risks relating to regulatory approvals, and the ability of the Company to complete a private placement financing. Although Pacific Bay has attempted to identify important factors that could cause actual results to differ materially from those contained in forward‐looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐looking statements. Pacific Bay does not undertake to update any forward‐looking statements, except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240325
FAQ
When did Pacific Bay Minerals (TSXV: PBM) appoint its new CFO Philip Ellard?
What is the status of Pacific Bay's Pereira-Velho Gold Project acquisition?
Where is Pacific Bay's new Pereira-Velho Gold Project located?
When was the Pereira-Velho Gold Project acquisition initially announced by Pacific Bay?
What other roles does Pacific Bay's new CFO Philip Ellard currently hold?
